Three things you need to know in the financial markets this morning from investment writer, Tony Cross
William Hill
William Hill has this morning announced a deal with US casino operator Eldorado Resorts to provide sports book gaming at its properties across the United States. Following a Supreme Court ruling in May, the US market has been opening up for sports betting. Eldorado will be given a 1.6% share of William Hill PLC, and will also own 20% of William Hill US. The deal is to run initially for a 25 year term.
John Menzies
An interesting note from John Menzies plc which has completed the disposal of its print media distribution operation to a private equity firm. The deal was valued at almost £75 million, but this makes the one-time newsagent now a pure play aviation services business.
Haynes
Full year results this morning have been published by Haynes, the providers of how-to guides for drivers, enthusiasts and mechanics. The numbers make for impressive reading, showing that there’s still money to be made in publishing if you know where to look. Revenues are up 13% – helped largely by the acquisition of E3 Technical last year – and operating profits have risen 9%. The dividend is however being maintained with last year’s purchase eroding the net cash position.
